Thanks Pirocco, Good to see you are discrediting the smack up half of the story, whilst letting the smack down half be. That was the point of this thread.
It's dropping nicely right now.. But I do not make public predictions, and mostly laugh at people that attempt to. I just try to buy when it's low in my own mind. Sometimes I'm right, sometimes I'm wrong, I usually keep that to myself but I doubt you will ever see me say "Silver and gold is going to........"
Hey, it's not me discrediting your smackup story on friday night, it's the people on the market, that drive the price, that discredit it. And of course I 'let be' the smack down half, I'm not the halfpicture drawer here, that's you!
I look at the Comex total net position trend, and I buy a next chunk silver when I see it dropping at a steady or rising price; or dropping much stronger than the price drop. It doesn't say it all, but it says already alot, more than the gut feelings and noideas. The price trend is a result of all on the silver market, those that have stocks and intend to sell, and those that have dollars, and intend to purchase. The Comex position typical bigger moves are 30000-50000 x 5000 ounces, thus 150-250Moz. An annual total supply (mining recycling disinvestment by anyone) is 1000 Moz so up to 25%. That matters. It's the 'first' part of the price, the most risky part, that is bound to go. The next risky part should be the ETF's, but for some reason, so far they didn't even start selling. Over the 2004-2012 years they bought exactly as much silver as others bought as coins. It's something to take seriously into account when thinking of purchasing in any uptrend. An important question may be what happened, and will happen, mining and recycling, due to the lower price. The higher price made them produce more, a lower price should have the opposite effect. Less demand, they like to keep the an income, and limiting production is a way. I don't know yet which price I'll go for. At the moment the same $19-$19.5 that I bought last 3 times. If I see a higher Comex position at the next occurrence, then I'll wait for lower. Last year and early this year I also waited for lower but then I saw the position dropping at a same price, several times in a row and I decided to not wait further. That's abit how I plan my purchases, using what the data I found and what I learnt. But the Comex position needs to be at most 2000 and preferrably even 10000 11/03/2014 37634 $21.32 04/03/2014 39769 $21.14 25/02/2014 38985 $21.81 18/02/2014 32853 $21.62 11/02/2014 22417 $20.135 <- the money for nothing club buys back in 'en masse'. 04/02/2014 14852 $19.525 <- same price, Comex position dropping, so others are buying, 3 times in a row, I slammed the purchase buttons. 28/01/2014 21033 $19.59 <- same price, Comex position dropping, so others are buying 21/01/2014 23951 $19.93 <- same price, Comex position dropping, so others are buying 14/01/2014 24809 $20.05 <- money for nothing club starts dumping. 07/01/2014 25529 $19.7 < 31/12/2013 24772 $19.435 <- rising position at a same price, bad news, means money for nothing club started to buy back in. 24/12/2013 19686 $19.495 <- rising position at a same price, I let go because of high dealer premium and lack of coins (remember the false German tax >19% change story?) 17/12/2013 19245 $19.87 10/12/2013 17532 $20.29 03/12/2013 12165 $19.06 <- I let go, because of too high dealer premium 26/11/2013 16428 $19.88 19/11/2013 17464 $20.41 12/11/2013 22629 $20.67 05/11/2013 25834 $21.735 29/10/2013 26136 $22.47 22/10/2013 24885 $22.67 That's how I add to the stack!
How many times did I say on this forum that my average purchase price was $32 (now abit under $30), since I started buying silver early february 2011? How many times did I say that I learnt to do better, by watching the money for nothing clubbers position and various other elements, where I created topics for? So what is your bold then critizing, my learning or my past? You have seen what is in your selection. While being ignorant for the rest. Typical money for nothin' clubbers behaviour.
Yes, we money-for-nothin' club members love donors such as yourself. Keep trawling that data Pirocco, it is good for my trading account.
What's the money-for-nothing club? Back on topic, are we going to get a another weekend price smackdown? Will find out soon.
A gang spending day and night fishing together bogus stories, that they then copycat all over the internet, in order to trick people into paying the higher prices after their buying back in. It's quite simples! About smackdowns, well haha, a smackup is when they rush back in, and a smackdown is when they rush back out. Inbetween there is a more gradual price trend, because it takes more time to convince people to pay more (using their target-dump price + X dollars price predictions)
I'm totally convinced manipulation happens in the silver market. My concern isn't silver price. I have physical silver as insurance.
